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National Housing Report - June 2015

by Jan Delimont

RMLS Market Action - Coos County May 2015

by Jan Delimont

New houses are getting bigger.

by Jan Delimont

New houses are getting bigger

New home construction rises
Homes under construction in 2013 by Lennar Corporation in the Grandview Estates development of Happy Valley. (Brent Wojahn/The Oregonian/file)
 
By Elliot Njus | The Oregonian/OregonLive The Oregonian
Email the author | Follow on Twitter
on June 01, 2015 at 11:05 AM, updated June 01, 2015 at 11:13 AM

The square footage of new U.S. houses continues to march higher.

The median-sized single-family house built in 2014 was 2,453 square feet, according to new data from the U.S. Census Bureau, setting a new record.

House sizes have grown steadily with only a few reversals, which turned out to be brief. New homes shrank in the wake of the housing bubble, but the trend turned out to be short-lived. By 2012, builders were setting new square-footage records.

The median new apartment, meanwhile, has stayed roughly the same size in the 15 years the Census Bureau has been counting. They've trended down in size in recent years — as a trend toward studio and micro-apartments took hold — but grew slightly to 1,073 square feet in 2014. (Condos built for sale were larger, with a median of 1,432 square feet.)

Homebuilders completed about 620,000 single-family houses nationwide in 2014, according to the Census Bureau's Survey of Construction.

 

-- Elliot Njus

enjus@oregonian.com

503-294-5034

 

 

Oregon Home Prices Increase 6.4%

by Jan Delimont

Oregon Home Prices Increase 6.4 Percent

by OPB | May 27, 2015 10:01 a.m. | Updated: May 27, 2015 11:07 a.m.


House prices rose 6.4 percent in Oregon in the past year, according to a federal index released Tuesday.

The quarterly report shows that Bend-Redmond and Medford had Oregon’s sharpest increase in prices in the past year. In both of those metro areas, the median house price rose about 9 percent.

Home prices in the Portland-Vancouver metro area increased by 8.5 percent in the past 12 months.

Oregon ranks 10th in the nation among states for appreciation in house prices, according to the federal report.

Seasonally Adjusted Housing Price
Annual Rate Increases

  • Portland-Vancouver: 8.5%
  • Albany: 3.73%
  • Bend-Redmond: 9.25%
  • Eugene: 5.11%
  • Medford: 9%
  • Salem: 7.39%

RE/MAX National Housing Report - May 2015

by Jan Delimont
 

 

RMLS Coos County Market Action - April 2015

by Jan Delimont

AARP Livability Index

by Jan Delimont

How Livable Will Your Neighborhood Be as You Age?

The AARP's new “livability index” grades communities on seven resource areas that aging Americans will need.

The AARP's "Livability Index" grades communities on a scale from 1 to 100 over seven categories.

What is "livability" made of, exactly?

That is the elusive question that a new “livability index” from AARP wants to answer. The index allows you to punch in an address and find out how it scores, on a scale from 1 to 100, in seven different categories: housing, transportation, environment, health, engagement, opportunity, and the catchall “neighborhood” category, which encompasses proximity to services as well as personal safety. The site covers 200,000 communities around the country, and includes county- and state-level data as well.

It's a lot of fun to play with the tool. Click through to a given category and you'll find why a given address scores the way it does: My Brooklyn neighborhood, for instance, rates an impressive 83 on transportation (14 buses and trains per hour; estimated transportation costs of $5,324 per year compared to the U.S. median of $10,791), but only 37 on engagement (shamefully low voter turnout and few civic organizations). The apartment where I used to live in Portland, Maine, does well in the “housing” category (places to live are relatively affordable and abundant), but not so great in “environment” (there’s a heavily trafficked bridge close by). Sources for all the data are included, as well as explanations of the reasoning behind the rankings.

The index also allows you to customize your priorities. If, for instance, you value clean air and water over access to quality health care, you can weight “environment” more heavily and dial back the importance of “health.”

While the AARP index is designed to be of special use to people aged “50-plus,” as you might expect given the source, the researchers who put it together emphasize that it is useful for people of all ages who are trying to figure out where they want to live, either now or in the future. “When you plan for older adults, you plan for everyone,” says Jana Lynott, senior strategic policy adviser at the AARP Public Policy Institute.

The index also allows you to view policies that communities have in place that affect everything from housing affordability to access for people with disabilities.

Many of the categories measured by the index are of increasing concern to people who are aging—and the U.S. population as a whole is getting older, fast. By 2030, it is projected that 19 percent of Americans will be over 65, up from 12.4 percent in 2000.

The vast majority of those older Americans want to stay where they are after retirement, and AARP researchers hope the index will be a resource for cities and towns that want to examine how they can improve services for an aging population.

“The index will help communities become better,” says Dr. Rodney Harrell, director of livable communities at the AARP Public Policy Institute. “So people don’t have to move.”

Existing-Home Sales Spike in March

MEDIA CONTACT: ADAM DESANCTIS / 202-383-1178 / EMAIL

 
 

WASHINGTON (April 22, 2015)—Existing-home sales jumped in March to their highest annual rate in 18 months, while unsold inventory showed needed improvement, according to the National Association of Realtors®. Led by the Midwest, all major regions experienced strong sales gains in March and are above their year-over-year sales pace.

Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 6.1 percent to a seasonally adjusted annual rate of 5.19 million in March from 4.89 million in February—the highest annual rate since September 2013 (also 5.19 million). Sales have increased year-over-year for six consecutive months and are now 10.4 percent above a year ago, the highest annual increase since August 2013 (10.7 percent). March's sales increase was the largest monthly increase since December 2010 (6.2 percent).

Lawrence Yun, NAR chief economist, says the housing market appears to be off to an encouraging start this spring. "After a quiet start to the year, sales activity picked up greatly throughout the country in March," he said. "The combination of low interest rates and the ongoing stability in the job market is improving buyer confidence and finally releasing some of the sizable pent-up demand that accumulated in recent years."

Total housing inventory2 at the end of March climbed 5.3 percent to 2.00 million existing homes available for sale, and is now 2.0 percent above a year ago (1.96 million). Unsold inventory is at a 4.6-month supply at the current sales pace, down from 4.7 months in February.

The median existing-home price3 for all housing types in March was $212,100, which is 7.8 percent above March 2014. This marks the 37th consecutive month of year-over-year price gains and the largest since February 2014 (8.8 percent).

"The modest rise in housing supply at the end of the month despite the strong growth in sales is a welcoming sign," adds Yun. "For sales to build upon their current pace, homeowners will increasingly need to be confident in their ability to sell their home while having enough time and choices to upgrade or downsize. More listings and new home construction are still needed to tame price growth and provide more opportunity for first-time buyers to enter the market."

The percent share of first-time buyers was 30 percent in March, marking the third time since last March that the first-time buyer share was at or above 30 percent. First-time buyers represented 29 percent of all buyers last month; they were 30 percent in March 2014.

According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage increased in March for the second consecutive month, rising to 3.77 percent from 3.71 percent in February. Despite the slight increase, the monthly average is still below 4.00 percent for the fourth straight month.

NAR President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark., says there needs to be additional choices for borrowers looking for safe and secure mortgage products to finance their home purchase. Realtors® urge the U.S. Senate to schedule a vote for the bipartisan Mortgage Choice Act, which passed the U.S. House of Representatives last week.

"This legislation levels the playing field for brokerages with affiliated business agreements by eliminating the 3 percent cap on the calculations of fees and points in the Dodd-Frank Ability-to-Repay/Qualified Mortgage rule," he said.

All-cash sales were 24 percent of transactions in March, down from 26 percent in February and down considerably from a year ago (33 percent). Individual investors, who account for many cash sales, purchased 14 percent of homes in March, unchanged from last month and down from 17 percent in March 2014. Seventy percent of investors paid cash in March.

Distressed sales4—foreclosures and short sales—were 10 percent of sales in March, down from 11 percent in February and 14 percent a year ago. Seven percent of March sales were foreclosures and 3 percent were short sales. Foreclosures sold for an average discount of 16 percent below market value in March (17 percent in February), while short sales were also discounted 16 percent (15 percent in February).

A NAR study released earlier this week revealed that nearly a million formerly distressed owners of prime quality have become re-eligible for Federal Housing Administration or similar financing programs and may have purchased a home again, and an additional 1.5 million are likely to become eligible over the next five years. However, damaged credit and other factors will severely limit the overall number of those being able to return.

Properties typically stayed on the market for a shorter time period in March (52 days) compared to February (62 days), and are also selling slightly faster than a year ago (55 days). Short sales were on the market the longest at a median of 165 days in March, while foreclosures sold in 56 days and non-distressed homes took 51 days. Forty percent of homes sold in March were on the market for less than a month

National Foster Care Month

by Jan Delimont

 

Annie (1982) Fundraiser

Sunday, April 26 at 2:00pm

EGYPTIAN THEATRE Coos Bay in Coos Bay, Oregon

 Sponsored by Re/Max South Coast

 

Each May we celebrate National Foster Care Month recognizing the compassionate work of people who serve as foster parents, relative caregivers, mentors, advocates, social workers, and volunteers.

 

All young people in foster care need a meaningful connection to caring adults who become a supportive and lasting presence in their lives. Foster, kinship and adoptive families, who open their homes and hearts and support children whose families are in crisis, play a vital role in helping children and families heal and reconnect thereby launching young people into successful adulthood.

This year, to help raise awareness of the important work foster parents do, Department of Human Services is partnering with the Egyptian Theatre in a special showing of the 1982 musical "Annie" on Sunday, April 26, at 2:00 p.m.  Please forward this information to all your friends, family & neighbors who are welcome to join you in this wonderful historic theatre and support the work that foster parents do.

 

Tickets: Adults - $5          Seniors - $4        Children (12 & under) - $2.50

 

All proceeds that we receive will go to the DHS Certifier's Foster Parent Appreciation Fund

REMAX NATIONAL HOUSING REPORT - March 2015

by Jan Delimont

Please click the banner above to access the March 2015 RE/MAX Housing Report.  

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Licensed in the State of Oregon
Jan Delimont, Broker/Owner, RE/MAX South Coast 1750 Sherman Avenue, North Bend OR 97459
541-290-1850
Jan Delimont provides information on real estate and homes for sale
in the Southern Oregon area.

 I list and sell residential real estate including freestanding homes, condominiums and townhomes
as well as investment properties, vacant land and lots for sale in the Southern Oregon real estate area.